Midas Holdings

SINGAPORE (May 26): Lawyers of Chen Wei Ping, Midas’ former executive chairman, have written to its board refuting allegations he had refused to answer questions related to unauthorised loans and corporate guarantees and undisclosed lawsuits involving t

SINGAPORE (May 23): Scandal-plagued Midas Holdings on Wednesday published a letter from its lawyer, Legal Options LLC, claiming that former CEO Patrick Chew had breached his contractual, statutory, and fiduciary duties to the company.

SINGAPORE (May 11): Patrick Chew, the former CEO of scandal-plagued Midas Holdings, has sent the company a lawyer’s letter demanding the repayment of nearly $3.3 million.

SINGAPORE (May 4): Midas Holdings is expected to be unable to operate as a going concern, says its board of directors in a Friday night filing.

SINGAPORE (May 4): Tong Din Eu, executive director of Midas Holdings, told anxious shareholders this past week that the company’s former executive chairman Chen Wei Ping had promised, during a Feb 1 conference call, to make arrangements with the Liaoyua

SINGAPORE (May 2): Midas Holdings will likely be insolvent within the next month if creditors push it towards liquidation, according to executive director Tong Din Eu.

SINGAPORE (Apr 24): The board of Midas Holdings has received two letters of demand dated Mar 9 and Apr 16, bringing to light another two loan guarantees that the group does not know about.

SINGAPORE (Apr 17): Midas Holdings announced Tuesday that former executive chairman Chen Wei Ping is under investigation in China for his suspected involvement in fraud relating to loans.

SINGAPORE (Apr 16): Midas says a court application has been filed against Jilin Midas Aluminium Industries (Jilin Midas) in China on Apr 2 by a lender called Yu Song.

SINGAPORE (Apr 13): Midas announced that its 32.5%-owned joint venture company, CRRC Nanjing Puzhen Rail Transport, has secured two contracts in relation to the sales of metro cars in China worth RMB 2.96 billion ($617.2 million).